THOUSAND OAKS, CA – A Teledyne Technologies subsidiary has purchased the remaining 11% of Ocean Design Inc. for nearly $19.6 million.

Teledyne Instruments completed the purchase begun in August 2006, when the company paid $30 million for a majority stake in ODI, maker of subsea, wet-mateable electrical and fiber-optic interconnect systems.

As part of the 2006 agreement, minority stakeholders could sell their shares to Teledyne at the end of each quarter up until March 2009. Teledyne was then required to purchase outstanding shares following the quarter ended June 30, 2009.
ODI will become a wholly-owned subsidiary of Teledyne, changing its name to Teledyne ODI Inc.